I have a day job, and so to watch the Olympics, I use my Asus EEE netbook computer. Here in Canada, the CBC streams its tv channel, two cable channels, and nine (count 'em, 9!) Web channels of olympics coverage through its www.cbc.ca/olympics/livevideo site. It also has on-demand video for highlight clips of archived events.
The diminutive Asus EEE 4G takes up little deskspace; its FireFox Web browser with MPlayer plugin plays back the streaming video effortlessly. Fortunately, the CBC did not select Microsoft's proprietary movie playback mechanism, so that all viewers -- Linux, Mac, PalmOS, and Windows -- can watch the olymics in realtime.